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LNA: Linas Agro Group, AB strengthens trade of fertilisers

Spekuliantai.lt | 2010-05-24 | NASDAQ OMX biržų naujienos | perskaitė: 1625
Raktiniai žodžiai: Linas Agro Group, LNA
LNA: Linas Agro Group, AB strengthens trade of fertilisers

Linas Agro Group AB Notification on material event 24.05.2010

Linas Agro Group, AB strengthens trade of fertilisers

The joint stock company Linas Agro Group is buying farmer supply centres with
fertiliser warehouses in Joniskis and Kedainiai from Arvi Fertis, UAB. By this
step Linas Agro Group, AB seeks to strengthen its position in fertiliser import
and retail trade by providing fertilizers to farmers participating in
agricultural programmes.

Linas Agro Grudu centras KUB, UAB run by Linas Agro Group, AB has signed the
purchase and sale agreement with Arvi Fertis, UAB, by which Linas Agro Grudu
centras KUB, UAB acquires Joniskis and Kedainiai-located farmer supply centres.
The first centre consists of the land site of 2.56 hectares with an
administrative building, fertiliser warehouses of 3.36 thousand cubic metres
and fertiliser packing equipment, while Kedainiai-located centre consists of a
farmer supply centre with an administrative building located in an area of 2.51
hectares, fertiliser warehouses of 2.63 thousand cubic metres and, also
fertiliser packing equipment. The sum of the contract has not been revealed due
to the mutual agreement of the parties.

The acquired assets border with Linas Agro grain elevators in Joniskis and
Kedainiai and have their separate railway roads. The fertilizers storage
capacity of newly acquired warehouses will be 13 thousand tons and the total
Linas Agro fertiliser storing capacities will reach 35 thousand tons.

Trade in fertilisers by Linas Agro Group, AB was started in 1993 with the
launch of oilseed rape and grain cultivation programmes. At the moment,
fertilisers are stored in Linas Agro grain centres in Joniskis, Kedainiai,
Siauliai, Vilkaviskis and an elevator of the cooperative Kupiskio grudai. In
this financial year which started in July 2009 the company sold approximately
80 thousand tons of fertilisers.

“Until now we did not import fertilisers into Lithuania ourselves, while this
year we imported 20 thousand tons. With the acquisition of the warehouses we
will buy fertilisers directly from the producers, therefore, profitability of
this activity will rise. In the two next seasons we plan to increase our annual
fertiliser sales up till 160 thousand tons as well as our market share in
Lithuania,” Linas Agro Group, AB Board Chairman Darius Zubas says.

The investments into two farmer supply centres with fertiliser warehouses will
enable Linas Agro Group, AB to strengthen its position in fertiliser marketing
in Latvia, too. Fertilisers are planned to be packed into FIBC bags in Joniskis
farmer supply centre and transported to Latvia.

Moreover, it is planned, that investments into fertiliser warehouses in
Joniskis and Kedainiai will enable the company to increase its fertiliser
sales by LTL 110 million until the end of the first half of year 2012.

“We believe that the acquisition of farmer supply centres with fertiliser
warehouses will bring double benefit to the company. To begin with, it will
strengthen Linas Agro Group, AB positions in fertiliser import and increase the
activity's profitability; further, it will enable us to provide farmers with
the necessary means for the most attractive prices. The second positive aspect
of this acquisition is that there is a possibility to build new grain storages
in the future on large land sites bordering with our grain centres. Expansion
of grain storages, which strengthens our main activities - trade in grain and
oilseed rape, is an important part of our company's strategy, which has been
consistently implemented since 2002,” D. Zubas states.

About Linas Agro Group, AB

Linas Agro Group, AB is an integrated agribusiness company engaged in
international agricultural business, production and trade in agricultural
produce and raw materials. It controls companies in Lithuania, Latvia and
Denmark. The Group consists of the following companies: Linas Agro, AB, a
Lithuanian company engaged in international trade in agricultural plant
produce; Linas Agro, UAB controlling grain storages; Grūdų centras, KŪB
(controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai and
Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA; international
trade company in Denmark - Rosenkrantz A/S; Landvesta, ŽŪB, a group of
companies controlling agricultural land; and Linas Agro Konsultacijos, UAB
controlling agricultural companies. Financial year of the companies starts on
the 1st of July. According to the data of the first half of the financial year
the income stood at LTL 554,35 million while the net profit was LTL 25,7
million, also, 59% of income was gained from the trade of grain as well as
oilseeds. In July 2009 - March 2010 the company sold 1,057 thousand tons of
produce which is by 2,5% more as compared to 9 months of the FY 2008-2009. As
of February 17, 2010 Linas Agro Group, AB is listed on NASDAQ OMX Vilnius stock

More information:

Andrius Pranckevičius
Deputy CEO
Linas Agro Group AB
Ph. +370 687 71 419
E-mail [email protected]

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